Commerce Bancshares (NASDAQ:CBSH) Stock Rating Lowered by StockNews.com

Commerce Bancshares (NASDAQ:CBSH) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Tuesday.

CBSH has been the topic of a number of other research reports. Morgan Stanley lowered their price target on shares of Commerce Bancshares from $72.00 to $66.00 and set an “underweight” rating on the stock in a report on Thursday, March 13th. Wells Fargo & Company boosted their target price on Commerce Bancshares from $67.00 to $70.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 29th. Piper Sandler increased their price target on Commerce Bancshares from $69.00 to $72.00 and gave the stock a “neutral” rating in a research note on Thursday, January 23rd. Raymond James cut Commerce Bancshares from an “outperform” rating to a “market perform” rating in a research note on Thursday, December 19th. Finally, Keefe, Bruyette & Woods increased their target price on shares of Commerce Bancshares from $66.00 to $78.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Two equities research analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. According to MarketBeat, Commerce Bancshares presently has an average rating of “Hold” and an average target price of $68.17.

Commerce Bancshares Price Performance

Shares of NASDAQ:CBSH opened at $62.30 on Tuesday. Commerce Bancshares has a 1 year low of $48.49 and a 1 year high of $72.75. The company has a market capitalization of $8.35 billion, a PE ratio of 15.54, a price-to-earnings-growth ratio of 2.13 and a beta of 0.78. The business has a fifty day moving average price of $64.12 and a two-hundred day moving average price of $64.46.

Commerce Bancshares (NASDAQ:CBSH) last posted its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.06. The company had revenue of $422.10 million during the quarter, compared to analyst estimates of $417.48 million. Commerce Bancshares had a net margin of 25.24% and a return on equity of 16.31%. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.84 earnings per share. Sell-side analysts anticipate that Commerce Bancshares will post 3.94 earnings per share for the current year.

Insider Buying and Selling at Commerce Bancshares

In related news, VP David L. Orf sold 1,036 shares of Commerce Bancshares stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $68.24, for a total value of $70,696.64. Following the transaction, the vice president now owns 22,175 shares in the company, valued at $1,513,222. This trade represents a 4.46 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Patricia R. Kellerhals sold 1,719 shares of the company’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $67.30, for a total transaction of $115,688.70. Following the sale, the senior vice president now owns 18,688 shares of the company’s stock, valued at approximately $1,257,702.40. The trade was a 8.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 78,434 shares of company stock worth $5,248,272 over the last 90 days. Corporate insiders own 3.10% of the company’s stock.

Institutional Investors Weigh In On Commerce Bancshares

Hedge funds and other institutional investors have recently modified their holdings of the stock. Kapitalo Investimentos Ltda purchased a new position in Commerce Bancshares in the 4th quarter worth approximately $26,000. CoreFirst Bank & Trust purchased a new stake in Commerce Bancshares during the 4th quarter valued at $33,000. Marshall Investment Management LLC purchased a new stake in Commerce Bancshares during the 4th quarter valued at $35,000. V Square Quantitative Management LLC grew its holdings in Commerce Bancshares by 84.0% in the 4th quarter. V Square Quantitative Management LLC now owns 791 shares of the financial services provider’s stock worth $49,000 after acquiring an additional 361 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. increased its position in shares of Commerce Bancshares by 46.9% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 839 shares of the financial services provider’s stock valued at $52,000 after acquiring an additional 268 shares during the period. Institutional investors own 70.26% of the company’s stock.

About Commerce Bancshares

Commerce Bancshares, Inc operates as the bank holding company for Commerce Bank that provides retail, mortgage banking, corporate, investment, trust, and asset management products and services to individuals and businesses in the United States. It operates through three segments: Consumer, Commercial, and Wealth.